Asda partners LV= with over 50s life insurance offering

by Gill Montia

Story link: Asda partners LV= with over 50s life insurance offering

Asda has expanded its insurance offering with a new life policy for the over 50s, developed with mutual insurer, LV=.

The move forms part of a strategy to triple the number of life insurance customers targeted by the supermarket chain.

According to independent research, the over 50s place “family wellbeing” high in their list of priorities, however, over half have no life insurance in place.

The group’s head of insurance and savings, Gideon Ingham, says: “We know that many of our customers with children or grandchildren would like to leave some money behind for their loved ones, help make their lives easier, shield them from funeral expenses or even just leave a legacy.”

Asda says it has chosen LV= as a partner because of a shared ethos of putting customers first and the policy offers an optional guarantee that premiums will not at any time surpass the amount that could be paid out.

Over 50s Life Cover is available in-store, online and over the phone and premiums start at £5 per month.

A joint promotion of the new policy is planned with LV=.